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Thermal energy management and niche pumping specialist Spirax‐Sarco Engineering booked a 41% rise in first-half profit, boosted in part by demand for vaccines.
Pre-tax profit for the six months through June increased to £150.0 million, up from £106.3 million year-on-year, as revenue climbed 13% to £643.7 million.
Spirax‐Sarco Engineering declared an interim dividend of 38.5p per share, up 15% year-on-year.
'A strong recovery of global industrial production, combined with exceptional Covid-19 vaccine-related demand in Watson-Marlow, has supported strong organic sales and profit growth across all three businesses,' chief executive Nicholas Anderson said.
'These results continue to demonstrate the robust business model, strategy and execution of our group, being achieved through the outstanding efforts and dedication of all our employees in managing the higher levels of demand to meet our customers' needs.'
'This excellent first half execution underpins our improved full-year profit outlook.'